R/€ = 16.71 Change: 0.04
R/$ = 15.57 Change: 0.04
Au 1853.66 $/oz Change: -5.10
Pt 956.50 $/oz Change: 3.00

Australasia News

Talga grows graphite resource in Sweden

By: Esmarie Iannucci     27th May 2022 ASX-listed Talga has reported a 54% increase in the resource estimate for its Vittangi graphite project, in Sweden, adding more than 10-million tonnes to Europe’s largest graphite resource. The Vittangi project is now estimated to host a mineral resource of some 30.1-million tonnes of graphite... 

Aus ready to meet Korean gas demand - Santos

By: Esmarie Iannucci     27th May 2022 Australia’s gas sector could benefit greatly from Korea’s decarbonising efforts, oil and gas major Santos said. Speaking at the Korean Government Energy Summit, Santos MD and CEO Kevin Gallagher noted that Korea’s proposed measures to cut particle emissions by restricting around one-quarter of... 

POSCO Chemical plans to invest in $633m battery materials plant with GM

By: Reuters     27th May 2022 South Korea's POSCO Chemical said on Friday it plans to invest in a $633-million battery cathode materials plant in Canada with U.S. automaker General Motors Co (GM). The South Korean materials maker said in a regulatory filing that it plans to invest $278-million through September 2024 on the... 

Yancoal facing $1.8bn takeover from shareholder

By: Esmarie Iannucci     27th May 2022 ASX-listed Yancoal has gone into a trading halt after its major shareholder Yankuang Energy Group Company announced plans to acquire the remaining 37.7% of the company to the Hong Kong Stock Exchange. Yankuang Energy Group is considering offering Yancoal shareholders convertible bonds worth... 

Sayona raises A$190m for NAL's start in 2023

By: Esmarie Iannucci     27th May 2022 Lithium developer Sayona Mining on Friday announced a successful A$190-million institutional placement to fund the 2023 restart of its North American Lithium (NAL) operations in Québec. Sayona told shareholders that it had received firm commitments for the placement of more than one-billion... 

Image shows stacked coins

South Africa must reform its regulatory environment, make itself investor-friendly – simple  

By: Martin Creamer     26th May 2022 South Africa must reform its regulatory environment and make itself investor-friendly – simple. That is the straight-forward view of Dr Mathews Phosa, who was speaking to Mining Weekly in his capacity as the non-executive vice-chairperson of the high-flying Jubilee Metals Group plc, a London Aim-... 

Picture supplied
Jubilee's Dr Mathews Phosa interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Sovereign Metals to publish ESG framework soon

By: Marleny Arnoldi     26th May 2022 ASX- and Aim-listed Sovereign Metals has taken what it deems proactive steps to establish an environment, social and governance (ESG) framework poised to position it as an industry leader on corporate social responsibility in Malawi, where it is developing the Kasiya rutile project. MD Dr... 

Copper extends losses on fears of a global recession

By: Reuters     26th May 2022 Copper prices fell for a third day in a row on Thursday and tin slumped to a one-week low as a gloomy economic outlook for top metals consumer China fanned concerns about a global recession, though a soft US dollar lent some support. Three-month copper on the London Metal Exchange was down 0.3%... 

Copper extends losses on fears of a global recession

Jubilee appoints Oliveira as successor to chair Bird

By: Marleny Arnoldi     26th May 2022 Aim- and AltX-listed Jubilee Metals has appointed Manuel Lino Silva de Sousa Oliveira (Ollie) as independent nonexecutive director, effective immediately, and as independent nonexecutive chairperson, effective June 1. He will succeed nonexecutive chairperson and founder Colin Bird, who decided... 

China's economic slowdown woes dent benchmark iron ore futures

By: Reuters     26th May 2022 Chinese iron-ore futures fell more than 4% on Thursday as downstream demand remained muted, while investors fretted over cues that the world's second-largest economy is contracting in the second quarter amid the Covid-fuelled chaos. China is facing bigger economic difficulties than in 2020, with... 

FFI takes a quantum leap

By: Esmarie Iannucci     26th May 2022 Green energy developer Fortescue Future Industries (FFI) will join forces with quantum computing net-zero initiative Qlimate to explore quantum solutions in the field of green hydrogen. FFI will become a foundational member of the “Qlimate Initiative” to explore quantum computing solutions in... 

The trouble with lithium

By: Bloomberg     26th May 2022 Elon Musk wants to mine it, China is scouring Tibet for it, battery makers are crying out for it. Lithium, the wonder metal at the heart of the global shift to electric cars, is in a full-blown crisis. Demand has outstripped supply, pushing prices up almost 500% in a year and hindering the... 

Covid and weather hit New Hope output

By: Esmarie Iannucci     26th May 2022 Coal miner New Hope lost some 20 354 working hours during the three months to April, owing to severe weather conditions and Covid-related labour shortages at its 80%-held Bengalla operations, in New South Wales. New Hope on Thursday reported that coal production during the three months to April... 

Canada's B2Gold makes a play for Oklo

By: Esmarie Iannucci     26th May 2022 TSX- and NYSE-listed B2Gold has made a play for ASX-listed Oklo Resources, offering A$0.1725 for each Oklo share held, valuing the company at A$90-million. The board of Oklo has unanimously recommended the takeover offer, which consists of 0.0206 B2Gold shares per Oklo share and A$0.0525 cash... 

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Hydrogen can be stored in existing fossil fuel infrastructure for years, world webinar hears 

By: Martin Creamer     26th May 2022 Hydrogen can be stored in existing fossil fuel infrastructure for years if need be, giving it the potential to become a universal energy carrier in the same way as oil is now but without the environmental impact, World Hydrogen Leaders webinar heard this week. Allowing hydrogen to make use of... 

Picture provided.
Hydrogenious LOHC Technologies strategy and implementation head Dr Andreas Lehmann.

Macarthur subcommittee to decide Lake Giles fate

By: Esmarie Iannucci     26th May 2022 ASX and TSX-V listed Macarthur Minerals has appointed a strategic sub-committee to assist the board in planning the development of its Lake Giles iron project, in Western Australia. The sub-committee will be focused on producing the Macarthur’s strategic partner action plan, drawing together the... 

Australian Vanadium inks renewable MoU

By: Esmarie Iannucci     26th May 2022 ASX-listed Australian Vanadium has inked a memorandum of understanding (MoU) with renewable energy developer North Harbour Clean Energy (NHCE) for the potential development of energy storage projects. Through its subsidiary VSUN Energy, Australian Vanadium help to facilitate development of... 

Element 25 continues customer hunt

By: Esmarie Iannucci     26th May 2022 Manganese miner Element 25 on Thursday said it was still assessing opportunities to place additional conventional and non-conventional material into the market while commodity prices were strong. The ASX-listed company has just shipped some 35 002 to of manganese concentrate from its... 

Goondiwindi hydrogen plans get state funding

By: Esmarie Iannucci     26th May 2022 The Queensland government has announced A$2-million in funding to the Goondiwindi regional council and its project partners to pioneer the integration of hydrogen production with wastewater treatment. Deputy Premier and Minister for State Development Steven Miles said Goondiwindi’s Wastewater... 

BHP may reap gain of $9.5bn from petroleum merger with Woodside - brokerage

By: Reuters     25th May 2022 Global miner BHP Group could reap a gain of $9.5-billion this year from the sale of its petroleum arm to Woodside Energy Group, Australian brokerage Barrenjoey said. The world's biggest listed miner last year agreed to combine its petroleum business with the company formerly known as Woodside... 

Platinum-boosted South African hydrogen electrolyser leaps ahead  

By: Martin Creamer     25th May 2022 The proof-of-concept of the platinum group metals-boosted advanced alkaline electrolyser – the AAE ­– has been successfully completed by Hydrox Holdings of Randburg in a pioneering achievement that offers the potential for South Africa to enter the fray as world demand for hydrogen electrolysers... 

Creamer Media photographer.
Hydrox CEO Corrie de Jager interviewed by Mining Weekly’s Martin Creamer.

Karora puts milling bottlenecks in rear-view mirror with A$80m acquisition

By: Mariaan Webb     25th May 2022 Toronto-listed Karora Resources on Tuesday announced the A$80-million acquisition of the one-million-tonne-a-year Lakewood Mill gold processing facility, about 60 km from the Beta Hunt mine, in Western Australia. Chairperson and CEO Paul Andre Huet described the acquisition as a... 

Severe global battery shortage likely post 2025, GlobalData forecasts

By: Schalk Burger     25th May 2022 Extraction of raw materials will not meet soaring battery demand unless capital markets change course in the face of environmental, social and governance pressures and invest heavily in new mines, says business data and analytics company GlobalData in its 'Batteries – Thematic Research' report.... 

QEM commissions pilot plant for Julia Creek

By: Esmarie Iannucci     25th May 2022 Vanadium and oil shale developer QEM on Wednesday announced the commissioning of its pilot plant at the headquarters of HRL Technology Group The vanadium and oil shale pilot plant is scheduled to be operational for a period of six months, and has been designed and developed to validate QEM’s... 

Develop hoping to add to its capacity

By: Esmarie Iannucci     25th May 2022 ASX-listed Develop on Wednesday announced plans to acquire mining provider Premium Mining & Civil and Premium Mining Personnel for a total consideration of A$7.46-million. Develop has inked a letter of intent (LoI), under which the parties have agreed to negotiate and enter into a formal share... 

Tomingley hits production milestone

By: Esmarie Iannucci     25th May 2022 Gold miner Alkane Resources has poured its 500 000th ounce of gold at its Tomingley operation, in New South Wales. “Pouring our 500 000th ounce is a significant milestone that provides a fitting testament to the teams that have worked on the Tomingley gold project and operations since the days... 

Image shows a molten gold pour

Bryah adds to Gabanintha base metal resource

By: Esmarie Iannucci     25th May 2022 Minerals explorer Bryah Resources has reported a 15% increase in the indicated and inferred base metal mineral resource estimate at the Australian Vanadium project, which is located within the company’s Gabanintha project, in Western Australia. Fellow-listed Australian Vanadium holds the mineral... 

Iron Road tests hydrogen waters

By: Esmarie Iannucci     25th May 2022 ASX-listed Iron Road will undertake a market sounding process to gauge commercial interest in the proposed Cape Hardy green hydrogen and industrial precinct. The South Australian government has previously identified Cape Hardy as one of three hubs for green hydrogen production, liquefaction or... 

Suvo finds offtake partner

By: Esmarie Iannucci     25th May 2022 Kaolin producer Suvo Strategic Minerals has struck a non-binding agreement with supply chain services provider C&D Logistics Group over a possible offtake agreement. Under the terms of a non-binding cooperation agreement, the two companies would work to negotiate a sales and purchase agreement... 

Peru community sees 'progress' in resolving Las Bambas mine standoff

By: Reuters     25th May 2022 The leader of a Peruvian indigenous community, whose protest led MMG's Las Bambas copper mine to suspend operations over a month ago, said on Tuesday that "progress" has been made toward a solution to the crisis. "We are moving forward thinking about the country at large, for the good of the... 

Glencore settles most bribery, manipulation investigations 

By: Martin Creamer     25th May 2022 Diversified mining and marketing company Glencore on Wednesday announced the settlement of most of its bribery and market manipulation investigations. This follows almost four years of investigations and a serious environmental social and governance (ESG) overhang over the group, 

Picture supplied
Glencore CEO Gary Nagle.

Ferrous metals, coal most exposed to climate risk in metals and mining sector – Fitch  

By: Tasneem Bulbulia     24th May 2022 Thermal coal, blast furnace-basic oxygen furnace (BF-BOF) steelmaking and its raw materials are the segments of the metals and mining sector that are most vulnerable to long-term climate risks owing to their large direct emissions, credit ratings agency Fitch Ratings says. Demand for many... 

India's top mining, steel groups warn of adverse impact from export duty hikes

By: Reuters     24th May 2022 The increase in export taxes on iron ore, announced by the Indian government over the weekend, will lead to large surpluses at home, and mainly hit producers of low grade ores that depend on overseas markets, a mining industry body said on Monday. On Saturday, the government announced that with... 

Resolution appoints new MD

By: Esmarie Iannucci     24th May 2022 Junior Resolution Minerals has appointed Steven Groves as the new MD, starting July 1. Groves has a Bachelor of Applied Geology (Honours) and a Master’s of Economic Geology the University of Tasmania and is a member of the Australian Institute of Geoscientists and the Society of Economic... 

Kingsgate secures refinery for Chatree ore

By: Esmarie Iannucci     24th May 2022 The restart of the Chatree gold mine, in Thailand, has progressed further, with owner Kingsgate Consolidated announcing the appointment of a refiner to process gold and silver ore produced from the mine. Kingsgate on Tuesday announced that Precious Metal Refining Company (PMR) had been appointed... 

Rafaella sharpens focus on Canada

By: Esmarie Iannucci     24th May 2022 ASX-listed Rafaella Resources has shifted its focus to battery minerals exploration in Canada, announcing the acquisition of a second battery metals project in the region, adjacent to its existing Midrim and Laforce platinum group metal (PGM)/nickel/copper sulphide assets. The company has inked... 

Westgold CEO steps down

By: Esmarie Iannucci     24th May 2022 Gold miner Westgold Resources has announced the immediate resignation of CEO Debbie Fullarton, who will be pursuing other opportunities after four years with the company. Wayne Bramwell has been appointed to the role of MD effective immediately, while the separate role of CEO has been terminated. 

Rio and BP to collaborate on biofuel

By: Esmarie Iannucci     24th May 2022 Diversified miner Rio Tinto and petroleum major BP will collaborate on a one-year biofuel trial in an effort to reduce carbon emissions from Rio’s marine fleet. Under the trial, BP is supplying marine biofuel that will be trialled on Rio’s RTM Tasman vessel on a mix of Transatlantic and... 

Image shows Rio's Pilbara ports operations
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